Who are the top taxpayers in Weymouth? Take a look at the top 10
WEYMOUTH − Energy generators and multifamily housing are proving to be hefty revenue sources for Weymouth.
Three different power companies and six apartment complexes were among the top 10 taxpayers in fiscal 2022. The other was a shopping plaza.
Weymouth charged about $125.6 million for property taxes, including commercial, residential and industrial. Almost 80% of that tax levy was for residential property taxpayers, who were charged a rate of $11.46 per $1,000 of assessed property value. Commercial and industrial landowners, who were charged a rate of $18.36, together made up just under 9%.
Almost all the rankings on this list are individual properties. So what entities paid the most in taxes in 2022 in Weymouth? Take a look.
1. Calpine Corp., $4,421,181
The top taxpayer in Weymouth in 2022 was the Calpine Fore River Energy Center. Calpine Corp., which is based in Houston, owns the 731-megawatt combined-cycle power plant on land off Bridge Street, just east of the U.S. Naval Shipbuilding Museum on the opposite side of the Weymouth Fore River.
Weymouth charged Calpine $4.4 million in property taxes last year as part of a 20-year agreement with the town.
The company bought the power plant from Exelon Corp. in 2014. The power plant runs mostly on natural gas but can also use fuel oil. Billing itself as the country’s “largest generator of electricity from natural gas and geothermal resources,” Calpine owned 75 power plants and two battery storage facilities as of April. It provides power to 22 states as well as parts of Canada and Mexico.
2. National Grid, $2,793,308
Taking up the No. 2 and 3 spots on the top taxpayer list was Boston Gas and Massachusetts Electric, which we’ve grouped together since they’re both owned by National Grid and there's no distinct property associated with this listing.
Massachusetts Electric changed its name to National Grid in 2005. Boston Gas was bought by the KeySpan Corp. in 2000, and in turn was acquired by National Grid six years later.
Weymouth charged $1.78 million in property taxes for land under the Boston Gas name and a little over $1 million for land under Massachusetts Electric.
More: 'More buying power': Weymouth mayor pushes for municipal electricity aggregation
3. Avana Weymouth, $838,390
Real estate company Greystar, which owns the 418-unit Avana Weymouth apartment complex, was charged more than $800,000 in property taxes last year.
The complex, formerly known as Mediterranean Woods, was built in 1983 and is at 190 Mediterranean Drive.
Avana Weymouth has two owners listed in local and state records: Charleston-based Greystar and Montreal-based Ivanhoe Cambridge. The two companies formed a partnership to develop and acquire multifamily properties across North and South America.
4. Queen Anne’s Gate Apartments, $783,027
Queen Anne’s Gate Apartments at 100 Queen Anne Drive has 590 units and was built in 1974. It is owned by Corcoran Jennison Cos., under the name CMJ Management Co. Inc.
Corcoran Jennison was founded in 1971 by Joseph E. Corcoran, who was a philanthropist and was dedicated to mixed-income housing. He died in 2020 at the age of 84.
The company owns and manages housing, hotels, health facilities, retail centers and more, according to the website.
More: Weymouth residential tax bills to rise an average of $134 in 2023
5. The Commons at SouthField, $770,118
This apartment complex at 200 Trotter Road brought in the most tax dollars among Weymouth property owned by John M. Corcoran & Co. It’s a different company from No. 4.
The Braintree-based residential management and development firm owns five of the top 20 Weymouth taxpayers based on individual properties.
Including The Commons, these properties are The Mastlight at 10 Patriot Parkway, The Ledges at 2 Avalon Drive, Weymouth Commons at 80 Donald St. and The Point at Weymouth at 39 Trotter Road.
John M. Corcoran & Co. owns several other properties that are highly ranked in terms of generating tax revenue for the town last year, including the No. 6 and No. 9 spots on this list.
More: Who are the top taxpayers in Quincy? Take a look at the top 10
6. The Mastlight, $738,091
This mixed-use property is situated on the former South Weymouth Naval Air Station and just across the street from The Commons at SouthField. The Mastlight is a 265-unit apartment complex with 14,000 square feet of retail space and was built in 2017. The property is owned by John M. Corcoran & Co.
More: South Weymouth shopping plaza makeover to include a popular restaurant chain
7. Pleasant Shops, $731,994
This shopping center is at 35 Pleasant St. in South Weymouth. It’s owned by Edens, an owner and developer of retail and mixed-use developments that has six regional headquarters, including one in Boston.
The shopping center is anchored by Whole Foods and also includes a Petco, a Subway, a Starbucks and a Marshalls.
8. Gradient Apartments, $719,866
The Dolben Co. owns Gradient Apartments at 1 Gradient Way. Built in 2018, Gradient has 242 units of studio to two-bedroom apartments.
The Dolben Co. is a multifamily real estate firm in Woburn. The company also owns two Randolph complexes – Residences at Great Pond and Woodview at Randolph – and The Q in Quincy.
9. The Ledges, $681,224
The Ledges is a 304-unit apartment complex built in 2002 at 1 Avalon Drive.
Other than the properties listed above, John M. Corcoran & Co. has even more properties on the town's top taxpayers list, including Weymouth Commons at $504,149 and The Point at Weymouth at $433,143.
A note about The Ledges: while the town’s property data lists the owners as a limited liability company with an address linked to John M. Corcoran & Co., the state’s corporation data links that same LLC with the New York-based Guardian Life Insurance Co. of America.
10. Algonquin Natural Gas Compressor Station, $590,775
The owner of the controversial Algonquin Natural Gas Compressor Station is also a top taxpayer to the town. Situated on the banks of the Fore River, the property is owned by a limited liability company linked to Canada-based energy company Enbridge.
The compressor station, which helps transport gas along the pipeline, is part of the company’s Atlantic Bridge project. It started sending gas to customers in January 2021 and provides natural gas to a Salem power plant.
Environmental groups and elected officials were opposed to the station’s construction, expressing concerns about health and safety risks.
Hannah Morse covers growth and development for The Patriot Ledger. Contact her at hmorse@patriotledger.com.
This article originally appeared on The Patriot Ledger: Top Weymouth taxpayers: Calpine Fore River, National Grid, Avana
